penny stocks on the move

A Short List Of Penny Stocks Hitting New November Highs This Week

One thing to keep in mind with regards to penny stocks is that they are quite volatile. As a result, investors should take care when researching these cheap stocks. Don’t let emotions cloud your judgment.

As with all stocks, penny stocks especially have tendencies to bring FOMO or “Fear of Missing Out.” This is where people get a feeling that they need to buy now or they’ll miss out. This could trigger big losses, erratic trading, and complete disregard for fundamentals.

Most of the time the companies represented by the low stock price are start-up phase companies. This means that there could be little to no revenue and/or little to no formal business operations. Therefore, if you see a certain penny stock making a move, you’re first instinct should be to ask “why” before you buy.

Which Penny Stocks Are Good To Buy & Which Should You Avoid?

Understanding the catalyst or possible catalyst behind a stock’s move can help you to better gauge the longevity of the move. And then there are times where it won’t. But ask any professional investor or trader if they trade with a plan and have a set of rules, they’ll likely respond, yes.

[Well This Is Awkward] Robinhood Left the Unlimited Margin Glitch Unfixed for Nearly a Year

That being said, it is also true that penny stocks can often generate enormous returns with smaller amounts of capital invested. This is a very big attraction that penny stocks offer investors. However, you need to be very diligent with research and watch the market closely in order to make the right choices. Here is a look at three penny stocks to watch that have hit fresh November highs this week. Can the moves continue?

Penny Stocks To Trade [or avoid] #1: Mersana Therapeutics (MRSN)

One penny stock making a significant move in November is Mersana Therapeutics Inc (MRSN Stock Report). It is a clinical-stage biopharmaceutical company. On November 8, the company had a major breakthrough. It presented data from its Immunosynthen platform at a key industry event.

“The opportunity to harness the innate immune system to attack tumors represents the next frontier in immuno-oncology. These exciting preclinical data demonstrate Mersana’s strong expertise and commitment to developing innovative ADC therapies for patients living with cancer.”

Anna Protopapas, President and CEO of Mersana Therapeutics

The event in question was the 34th Annual Meeting of the Society for Immunotherapy of Cancer held in National Harbor. It’s a significant development for the company for sure. The market thought so as well as the stock price rocketed by as much as 60.5% in November thus far. Though shares of MRSN stock pulled back on Thursday, is this a pause before a move higher? Or is this the first sign of a pullback?

penny stocks to trade now Mersana Therapeutics (MRSN)

Penny Stocks To Trade [or avoid] #2: AgEagle Aerial Systems (UAVS)

The other penny stock that flew recently was Ageagle Aerial Systems Inc (UAVS Stock Report). AgEagle is a data analytics and aerial imagery company. The company announced a key development about its HempOverview SaaS (software as a service) platform. The platform was selected by the Florida Department of Agriculture and Consumer Services. It will be used to manage the online application and registration of hemp growers.

Read More

The contract in question will be in effect from 2020 up until the planting season in 2022. The financial details haven’t been revealed but it is a significant development for AgEagle. Naturally, the penny stock soared by as much as 21% since the announcement.

Like others on this list, the move in November wasn’t an isolated event. Shares of UAVS stock have climbed since hitting 52-week lows in August of $0.2125. Since then the penny stock has rallied to highs of $0.6999; a 225% move. Will this be the case next week or has the stock topped out?

Holly Bell, Florida’s Director of Cannabis, stated, “Our Department and Commissioner Nikki Fried are committed to building the nation’s best state hemp program, which includes the regulatory infrastructure to get permits in hand and seeds in the ground. With thousands of growers expected to apply for permits for the 2020 planting season, we look forward to working closely with AgEagle to ensure that our online registration platform is fully operational and ready to begin issuing permits in the coming months.”

penny stocks to trade now Ageagle Aerial Systems (UAVS)

Penny Stocks To Trade [or avoid] #3: DelMar Pharmaceuticals (DMPI)

Last but not least, DelMar Pharmaceuticals Inc (DMPI Stock Report) has been on a roll for much of the month. It managed to gain as much as 33% since November 1. But this hasn’t just come from November’s momentum.

[Read More] Penny Stocks To Buy For Under $2; One Up 183% This Quarter

Shares of DMPI stock began rallying back in October after hitting 52-week lows of $0.402. That as the case, the penny stock has made a move of more than 110%. We discussed more details on DelMar earlier in the week in the article: 5 Penny Stocks To Buy For Under $2 Right Now. Can the company’s stock keep up the pace through next week?

This optimism regarding the stock had escalated. This came after the company reported that it will present data from a pair of Phase 2 clinical trials of its VCAL-083 therapy. The results are going to be presented next week. If the presentation turns out to be positive, then it could be a big plus for the company. Investors may want to keep this event in the back of their heads as speculation loves playing a role with biotechnology penny stocks.

In addition, DelMar released its quarterly earnings this week. Saiid Zarrabian, DelMar’s President and Chief Executive Officer commented, “Following a productive quarter, we continue to believe that our cash position will provide the runway to enable us to achieve topline results for two of our three patient groups in our two Phase 2 trials. We are seeing encouraging progress and look forward to sharing our upcoming update of data from two poster presentations at the Society for Neuro-Oncology Annual Meeting.”

penny stocks to trade now DelMar Pharmaceuticals (DMPI)

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 |

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top 10 Takeaways From September Fed Meeting & FOMC Statement

FOMC Statement From September 2022 Fed Meeting & Jerome Powell Press Conference

Are These Top Penny Stocks To Buy Now Or Avoid Like The Plague?

4 Penny Stocks To Buy Or Avoid Before Next Month